Real estate prices are going up across the U.S. each year. Because of that, more people are looking for affordable housing options.
One of the obvious choices is to rent an apartment. It’s cheaper than saving up for a downpayment and paying a monthly mortgage, but it may become more expensive in the long run.
Another option that’s gaining popularity is to live in mobile homes. Also called manufactured homes, mobile homes are factory-built houses that offer the comforts and conveniences of traditional homes at a fraction of the cost.
If you’re looking for an affordable housing alternative, Storz Management Company got you covered. We manage various mobile home communities in California, Oregon and Washington. Call us at (916) 989-5333 to learn more about our parks and communities.
In this guide, we’ll walk through the various factors you need to consider when deciding between a mobile home and an apartment.
Mobile homes are more budget-friendly compared to apartments
On average, rent for a one-bedroom apartment costs $1,770 per month. The figure may vary depending on your location, but the general trend is rent prices are soaring yearly.
Despite that, renting an apartment is still more affordable than mortgage payments for a traditional house. That’ll cost you around $2,064 per month on average. Note that this figure doesn’t account for down payments, real estate taxes and other miscellaneous expenses.
Meanwhile, living in a mobile home is significantly more affordable than the above options.
The average cost of a mobile home is $111,000. That’s around $800 per month for a 20-year loan.
Most mobile home owners rent land from mobile home communities. Even if you add the cost of rent, mobile homes are still more affordable compared to renting an apartment.
And unlike renting an apartment, you own your mobile home. This means you receive equity on your property, allowing you to get a loan and use it as collateral. Moreover, you can resell your unit later and recover the amount you paid.
If you’re wondering why mobile homes are so affordable, it’s because they have simple designs and inexpensive materials. They’re also built in factories, resulting in lower production costs.
Nonetheless, this doesn’t affect the safety and durability of mobile homes. In fact, manufactured homes are near-comparable to traditional houses in terms of quality.
Enjoy privacy and personal space in mobile homes
Apartments are often located in residential buildings. As such, you (and your neighbors) get little privacy despite being in your personal space..
If you’re living in an apartment, it’s common to hear your upstairs neighbor’s footsteps or the various noises from tenants beside your unit. Likewise, you can also assume that your neighbors hear every sound you make.
This won’t be an issue if you choose to live in a manufactured home. Like traditional houses, you get your own plot of land with mobile homes. Even though you’re renting the land, you’re assured that you won’t be sharing your walls with anyone.
Thus, you can enjoy your privacy and personal space.
The average size of a double-wide mobile home is 2,700 sq. ft. This allows you to add a kitchen, a utility room, a foyer, two bathrooms, a deck and at least three bedrooms.
Meanwhile, the average size of apartments is 900 sq. ft, with bigger units increasing rental prices. You get little privacy with cramped personal space when you’re living in apartments.
Avoid stressful city living in mobile home communities
Most apartments are located within downtown areas. This comes with the benefit of being near the city and its conveniences. You’re closer to malls, restaurants, hospitals and work opportunities.
However, that also comes with its downsides. Living in a city is often stressful and causes adverse effects on a person’s mental health. Also, urban areas usually have higher crime rates.
On the other hand, if you choose to live in a mobile home, you can rent in a mobile home park outside the downtown area. This removes the negative effects of living in an apartment.
But that doesn’t mean you’ll be giving up the perks of apartment living. Modern mobile home communities, such as the parks managed by Storz Management Company, feature community centers, libraries, swimming pools, sports centers and other amenities.
Mobile home living gives you modern conveniences. At the same time, it distances you from the city’s chaotic bustle.
Why are mobile homes so cheap: a more affordable option
Generally, mobile homes are more affordable, spacious, and private compared to apartments. They also provide the opportunity to live in a safer and quieter environment without sacrificing the luxuries of city living.
Nonetheless, your needs, preferences and personal situation will determine your best housing option.
However, if you do decide to live in a mobile home, Storz Management Company is here to assist you. We are managing several mobile home communities in California, Oregon and Nevada. You can reach us by calling (916) 989-5333 or filling out this form.